RIC AgRebuild loan roadshow in North Queensland this week

Tuesday, February 18, 2020
Hughenden, Richmond and Julia Creek
News

Was your cattle business affected by the 2019 North Queensland flood event?

With conditions improving in some parts of the North West, now could be a good time to consider the Regional Investment Corporation’s (RIC) AgRebuild loan (North Qld flood) for restocking and replanting.

RIC, the Queensland Rural Industry Development Authority (QRIDA) and Rural Financial Counselling Service (RFCS) will be travelling through Hughenden, Richmond and Julia Creek from today until Thursday, 20 February to answer your questions about the loans.

The AgRebuild loan is for up to $5 million and can be used to refinance to up 50 per cent of existing commercial debt, fund restocking and provide working capital.

RIC CEO Bruce King said that with no repayments for two years on the 10-year loan, graziers can get calves on the ground and weight on cattle without the added financial burden of loan repayments.

“To date almost $50 million has been approved for North West graziers through the AgRebuild loan to assist with repairs, restocking and provide working capital as enterprises map out their flood recovery,” said Mr King.

The loan terms provide two years interest free with no repayments, three years interest only and then principal and interest for five years.

There are no fees or charges with RIC loans and applications close on 30 June 2020.

RIC, along with QRIDA the RFCS will be at the following locations between 18 – 20 February 2020, with no appointment necessary:

  • Tuesday 18 February 2020

Hughenden – QCWA Hall

42 Stansfield Street, Hughenden

9:00am to 4:00pm

  • Wednesday 19 February 2020

Richmond – Shire Hall Supper Room

50 Goldring Street, Richmond

9:00am to 4:00pm

  • Thursday 20 February 2020

Julia Creek – Father Bill Busuttin Centre

Church Lane, Julia Creek

9:00am to 4:00pm

For more information about the loans, and to apply, please visit the RIC website: https://www.ric.gov.au/agrebuild